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I refuse to get excited about the upcoming COLA until I see how much they are hiking the Medicare Part B premium as well.
Nobody is asking you to get excited (or disappointed, for that matter) about the upcoming COLA. This thread exists simply to provide factual information on monthly CPI-W changes, as well as how those changes will translate into the following year's cost-of-living increase for Social Security recipients and federal retirees.
I read the same thing, that the 2019 Part B premium will remain the same at about $134. Forgot where I read it, but the article also said that after 2019, it will rise about 5% each year through 2026. Next year's Part B premium is announced in November.
A quick calculation of Part B premium if it rises at approximately 5% per year through 2026 (estimate only, and rounded to nearest dollar):
Oh, I was only using "excited" facetiously, in the sense of not feeling either good or bad about any upcoming COLA until I find out what my 'net' after Part B will be.
Re: The projected increases, whatever damage that projected 5% in upcoming years may do will depend on how that amount versus the Hold Harmless provision shakes out. As this Motley Fool article explains, it isn't a simple percentage-to-percentage matchup (we only wish!!):
I refuse to get excited about the upcoming COLA until I see how much they are hiking the Medicare Part B premium as well.
Never mind the Medicare Part B. My Medigap Plan F went up by $51.00 a quarter starting back in July. So it is now $519 each quarter.
Although I must keep in mind that before becoming eligible for Medicare or even Obama Care I was paying just over $1,500 a month for premiums plus high deductible, out of pocket and co-pays so my costs for all my medical stuff now is still a bargain compared to those days.
The annual benefits statement from social security is the validation.
You missed my point. The CPI data can be tracked month to month on the BLS website, if one knows how to convert the index into a year-to-year percentage. There is no such means of doing that with Medicare Part B premiums, or at least I haven't found one.
MathJak, If I am FRA and filing on a restricted, spousal only application, does it matter in which month I file? Then, when I am 70, when is the best time to file for my own benefits? My birth month is August.
Thanks!
up to fra which month does not matter .after fra you always want to try to get your first check in january
delayed credits are calculated only once a year . while you get paid for them going forward you never get any retro back for the previous year . kind of a ss gotcha.
so if you were say 68 in july and filed . you would get delayed credits last calculated the previous january .. comes the following january you would be increased going forward for the delayed credits you earned from january to july , but you would never see any money retro for july to december. you only get increased going forward .
so by filing for a january check you get all delayed credits from the previous year.
again this does not apply to filing pre fra . then you get all credits up to the moment .
Last edited by mathjak107; 09-14-2018 at 02:25 AM..
Correct but really that’s because there ARE no credits pre FRA! Only a percentage based on the number of months total short between filing and PIA FRA, based on your year of birth.
correct but there still is that gotch after fra . you basically forfeit the money on the delayed credits you earned in any given year when you file mid year . you only get those credits earned going forward from the next january .
so if you filed in july , you get paid only on delayed credits earned up until the end of the previous year when you file . your check includes no credit for january thru june .
you would not be paid yet for credits earned in january thru june . so all checks would not include delayed credits for that year .
when the new year starts they raise you by the delayed credits you got from the previous january to june going forward . but you never get the differences you earned for january to june that is just lost .
if you let the year finish you still get an increase for delaying further and will see it all paid in january going forward
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